Have You Been Offered a Targeted Voluntary Separation Package?

With redundancy packages targeted in the Federal Budget, TGB’s Tina Bouras says injured workers need to consider not only their TVSP payment but also their WorkCover entitlements before a fast approaching deadline.

After the recent release of the Federal Budget, many South Australians are concerned as to how the cutbacks will affect them.

Among the many sectors targeted for proposed funding cuts are health, education and the services available to the elderly. 

The State Government sector is also in the gun with many employees facing job uncertainty.

The National Employment Standards enable redundancies to occur when employers either decide there is no longer a need for a specific job role, or alternatively, when the role is no longer funded due to budgets cut backs. The Federal budget announcement consequently has already created a ripple effect in a number of government departments.

Coinciding with the budget announcements, the State Government is offering Targeted Voluntary Separation Packages (TVSP) to employees who have jobs that are not secure in the 2015 financial year.

There are important deadlines to be aware of. After 30 June 2014, redundancy packages, if still offered, are going to be reduced considerably – in the order of 50 percent. This will mean that a worker will not only lose their jobs, but also a big slice of their entitlements.   

Those who are on WorkCover, or have suffered a previous work injury, are those who are likely to be offered a TVSP. Taking a TVSP will directly impact on your WorkCover entitlements so it is crucial to seek legal advice relating to both aspects. 

If you are an employee of the State Government and have suffered a work injury and have been offered a separation package, it is important to ensure that you are appropriately compensated.

For example, if you suffered an injury five years ago, you may still be entitled to lump sum compensation which can be negotiated with your redundancy package, even if you have returned to full time pre-injury work duties. 

Although the deadline is fast approaching, there is still time to seek legal advice to ensure you are receiving your correct entitlements. It is most likely that these important considerations will need to be finalised prior to 30 June 2014. 

In the wake of a Budget that will have a big impact on many in the community, this serves as a timely reminder to ensure that you receive independent advice to secure your entitlements.

Author: Tina Bouras

If you need advice about your entitlements, I can help. Contact me as soon as possible via my contact details below.